Excitement in London markets this week focused on the FTSE 250 listed London Stock Exchange (LON:LSE) itself, and its plans to "create a merger of equals" with Canada's TMX. News of the deal, which would give the LSE a 55% stake in the combined entity, got a warmer reception in London than Canada. Quebec officials are scrutinising the detail but there was nevertheless a sense among analysts (and the exchanges themselves) that both sides really need this deal. That sense was fuelled in the aftermath by news that Deutsche Borse and NYSE Euronext were also in talks over a coming together. What will it mean? Well, the LSE will get its hands on TMX's derivatives trading technology, which has previously been seen as a chink in CEO Xavier Rolet's armour. In turn, the Canadian group will go some way to plug the perennial problem of expanding its investor base. More importantly, the proposed merger is a bet on the current super-cycle of commodities, with the combined group promising to be the number 1 global listings venue for natural resources, mining, energy and clean technology. For the time being, the London Stock Exchange share price enjoyed a rise from 884p at the start of the week to 925p by Thursday. Arguably, it will be the small cap exploration and development companies that feel the effects of the merger the most. TMX's TSX Venture Exchange is a well regarded and well supported platform for Canada's burgeoning army of resource stocks. Local investors "get" exploration. However, those companies that plan to go on and develop their project are often encouraged to dual list on the LSE's Alternative Investment Market. On this side on the Atlantic, the general appetite for exploration is more restrained but the enthusiasm for development opportunities has been a hallmark of AIM's success in attracting companies and raising cash for them.Commodities prices boost London miners Reporting its fourth quarter and full year figures this week, Randgold Resources (LON:RRS) said that despite operational and political setbacks in a generally challenging year, its had boosted its profit for 2010 by 43% to US$120.6 million. Randgold credited the performance to a strong fourth quarter which drove up attributable production by 30% to 132,099 ounces quarter-on-quarter. Lifted by a rise in the gold price, Q4 gold sales were up 25% at US$145 million. Annual profits could have been US$21.7 million higher but for the fact that 23,428 ounces of gold produced at the new Tongon mine remained unsold because of disruptions connected to the disputed outcome of the Côte d'Ivoire elections in November. The Randgold Resources share price lost 2.3% on Thursday and was trading at 4921p. Elsewhere, and ahead of its 2010 results next week, Anglo American (LON:AAL) said that it would be reporting underlying earnings from its Anglo Platinum subsidiary of US$425 million. In turn, the group's Kumba Iron Ore are set to deliver underlying earnings of US$1,210 million. The Anglo American share price lost ground during the week to leave it trading at 3275.5p. Meanwhile, Xstrata's (LON:XTA) Copper arm reported significant increases in both the total Mineral Resource estimate and Measured and Indicated Resources for its Horse-Ivaal-Trukai (HIT) deposit at the Frieda River copper-gold project in Papua New Guinea. The new HIT resource estimate comprises a total of 1.9 billion tonnes at a grade of 0.45% copper, 0.22 grams per tonne gold and 0.7 grams per tonne silver, using a cut-off grade of 0.2% copper. This represents 8.6 million tonnes of contained copper metal and 14.3 million ounces of contained gold metal. Separately, Xstrata said it had elected to exercise its call option over Jumelles Ltd, which owns the Zanaga iron ore project in the Republic of Congo and is a subsidiary of AIM listed Zanaga Iron Ore (LON:ZIOC) . Later in the week, Xstrata reported that revenues last year had increased by 34% to £30.499bn, with operating profit up 75% to $7.7bn. The group said the figures reflected its restructuring activities during 2009, which had positioned it to benefit from a more favourable operating environment. During the year, the company enjoyed record annual production volumes for coking coal, semi-soft coking coal and mined and refined nickel. The Xstrata share price fell by 2.7% to 1428p. Finally, ahead of its full year results on Thursday, mining giant Rio Tinto (LON:RIO) approved a US$933 million investment to extend the life of the Marandoo iron ore mine in Western Australia's Pilbara region by 16 years to 2030. The group said it was also set to invest US$277 million in the Iron Ore Company of Canada in the next phase of a project that will ultimately raise concentrate production capacity there by 40% to 26 million tonnes per year. Announcing its 2010 results, Rio delivered record underlying earnings of $14 billion, up 122%, and announced a $5 billion capital management programme together with a 20% increase in its dividend to 63 cents per share. During the year net debt was slashed to $4.3 billion from $18.9 billion. The Rio Tinto share price was down by 2.6% to 4537.5p.